POST REGISTRATION REQUIREMENTS FOR BUSINESS NAMES

Post registration obligations
Post registration requirements are obligations which business names are supposed to fulfill once registered. These include filling of annual returns, change of ownership, change of financial year, change of nature of business and change of registered office.

Changes in registered particulars
Section 15 of the Registration of Business Names Act requires that if any change(s) occur regarding any particulars registered in respect of a firm or an individual, such a firm or individual is required to furnish the Registrar within 14 days, a statement in the prescribed form (Business Name Form XI) signed by all partners stating the nature and date of change. The statutory filing fee of a Notice of Change in Registered Particulars is K60,000.

Change in Business Name
Where an applicant wishes to change the name of the business, he/she should complete a Notice of Change in Particulars (Business Name Form XI) and surrender the original Certificate. Once payment of a statutory fee of K100,000 and the proposed name is approved, a Certificate for Change of Name is issued.

Annual return for Business Names
Section 12 of The Registration of Business Names Act No. 16 of 2011 requires every business registered under the Act to submit to this Office its annual return not later than three (3) months after the end of its financial year.

Annual Returns are filed on BN Form XIV,  and must be submitted in duplicate. The normal filing is K30,000 per year. However, if the Annual Return Form is submitted after the expiration of three (3) months from the date of the financial year a late filing fee of K70,000 must also be paid together with the normal filing fee bringing the total to K100,000.

Cessation of the business
If any firm or individual who has been registered ceases to carry on business, it is the duty of the persons who are partners at the time it ceases to carry on business to file within three (3) months after cessation of business in a prescribed form (Business Name Form XIII) that the firm or individual has ceased to carry on business. The filing fee for Notice of Cessation of Business is K20,000. The original Certificate of Registration must also be surrendered to PACRA. Upon payment of fees, the Business Name is removed from the register.

For more visit our Frequently Asked Questions on Business Names